In a report released yesterday, Tim Anderson from Bank of America Securities maintained a Sell rating on Regeneron (REGN – Research Report), with a price target of $547.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tim Anderson’s rating is based on several factors that have contributed to a less favorable outlook for Regeneron. The primary concern revolves around the performance of Eylea, a key product for the company, which has seen a decline in sales by 8% in the first quarter. This decline is attributed to increased competition, patient assistance programs, and lower net pricing, which have collectively impacted the company’s revenue.
Additionally, the unexpected announcement that the FDA has not approved the pre-filled syringe formulation of Eylea HD has further compounded the challenges facing Regeneron. Despite the company’s strong R&D track record and potential pipeline developments, the faster-than-anticipated erosion of Eylea’s market position has led to a cautious outlook. Consequently, Tim Anderson maintains an Underperform rating, reflecting concerns over the sustainability of current consensus forecasts amid these headwinds.
According to TipRanks, Anderson is a 4-star analyst with an average return of 8.8% and a 69.86% success rate. Anderson covers the Healthcare sector, focusing on stocks such as Gilead Sciences, Pfizer, and Regeneron.